Enoc, Wall Street in card payment agreement

UAE Business

Emirates National Oil Company (ENOC) said it has signed an agreement with Wall Street Exchange to make it easy for cardholders to settle their bill payments in over 150 petrol and Zoom outlets round-the-clock through its new service.

Credit card holders in Dubai and Northern Emirates will soon be able to settle their card payments in over 150 petrol and Zoom outlets, making it easier to pay their bills at any time of the day.

The new service is initiated by Wall Street Exchange and the retail divison of Emirates National Oil Company (Enoc).

During the first phase, any credit card holder who is registered with Wall Street Exchange will be able to make the payment at any Enoc or Eppco petrol station as well as in Zoom outlets. Soon after, any card holder with a valid Emirates ID will be able to avail of the same service, said Sultan AlMahmoud, the chief marketing and support services officer, at Wall Street Exchange, after signing the agreement with Enoc’s managing director for retail, Burhan Al Hashemi.

“Customer convenience is the primary reason this service has been pioneered by us,” observed Sultan AlMahmoud.

“The service launch is a part of the company’s strategy to be a total financial solution provider. We have been functioning in the comprehensive money exchange service industry for over 30 years now, and we understand that bill payment compliance goes up significantly when there is greater ease of payment,” he added.

There are 5.9 million bank cards in circulation in the UAE and over a million of these are credit cards.

The UAE is considered to be amongst the fastest growing markets in the Gulf for cashless payments. In 2014, credit card purchases grew by 50 per cent accounting to Dh109.6 billion.

On the new partnership, Al Hashemi said: "Our fuel stations are located across various areas in Dubai and the Northern Emirates, and we are always at the forefront to introduce new services that enhance customer satisfaction.”

"Value-added services such as this credit card payment facility are a part of that strategy in empowering customers to make best use of their time. Speed and convenience have always been our hallmarks," he added.-TradeArabia News Service